Intel Beats Expectations as PC Sales Stabilize, Eyes Manufacturing Growth

Intel beat revenue and profit expectations for the quarter, with margins rising faster than expected. The PC market decline is slowing and data center business is stabilizing.

Intel forecasts stronger than expected revenue and margins for the current quarter, optimistic about PC sales rebound and manufacturing services growth.

Intel has secured 3 customers for its contract manufacturing business, expects a 4th by year-end. Ramping up advanced manufacturing capacity.

Intel reported Q3 adjusted EPS of $0.41 on revenue of $14.2B, down 8% annually. Client segment revenue down 3% to $7.9B.

Intel sees slowdown in programmable chip sales for multiple quarters but strong demand for AI chips, with supply unable to meet demand currently.